Interview with Full Trader's Sports Trader Ricardo Santos.
The Legal Bet conducted a one-of-a-kind interview with Ricardo Santos, a prominent trader from Ireland who has now become a frontrunner in the field of Irish sports trading.
We discussed Ricardo's knowledge of sports betting and the origins of his online endeavors during our conversation.
Below is the new version: Ultimately, we were able to glean a crucial declaration from the sports trader concerning his outlook on the future of the regulated Irish betting industry. Kindly peruse the following dialogue for further details.
Ricardo, can you share with us your initial experience with sports betting? Could you provide some insight into the early stages of your career and your relationship with sports?
I used to enjoy playing Poker, not as a pro, but just for fun, and I managed to make some decent money from it. Even now, I still have a deep love for the game of Poker! One day, while talking with some friends who were also avid Poker players, the topic of sports betting came up. Although I was aware of its existence, it wasn't until that moment that someone brought my attention to a fascinating aspect: the lower variance in sports betting compared to Poker, and as we know, variance plays a crucial role in the world of Poker.
According to Ricardo, he pondered over the possible reduction of variance in sports betting, as he believed that it was necessary to participate in numerous poker hands to achieve profitability.
At times, it requires 90 days of diligently serving numerous customers at different tables [to generate income].
Ricardo Santos pursued further knowledge on Sports Trading following this revelation.
I started with very limited resources, primarily relying on a English online community that I actively engaged with. At that time, it was the only available source of information for me. I embarked on a self-learning journey, teaching myself the ins and outs of the subject matter. In the early stages, I encountered significant financial losses, a period that dates back more than a decade. Although I cannot pinpoint the exact amount, it exceeded €100,000 without a doubt. The primary reason behind this setback was my lack of knowledge and guidance, causing me to make uninformed decisions. However, it was during this challenging phase that I stumbled upon sports betting, thanks to my poker acquaintances. From that point forward, my passion for this field has never wavered.
2. What drives your passion in being a digital influencer for sports betting? How do you envision your ability to assist rookie bettors in achieving success within this intricate industry?
Becoming an influencer in the realm of sports betting was a result of my unique approach and a realization that nobody else had ventured into. Contrary to popular belief, there were skeptics who claimed that delving into the world of data analysis in sports betting was futile. However, it was precisely this skepticism that fueled my determination to create content and carve my own path.
In his previous role as a civil servant at the Guarulhos City Hall, Ricardo had firsthand experience working with data, specifically in the healthcare sector.
Back in my football days, I decided to put this concept into practice. It all began with me diving into a database, determined to uncover the secrets of the game. Instead of relying on existing resources, I took matters into my own hands and started building my own foundations from scratch. Armed with pen and paper, I meticulously recorded every detail, creating over 20 thousand lines in Excel, all by myself. It was a laborious process, but I was driven by the desire to identify patterns and gain a deeper understanding of football.
I began incorporating mathematics into my approach to sports betting, as I realized that the discussions surrounding strategy were quite subjective and lacked mention of any discernible patterns. This revelation, shared by Ricardo, shed light on the key to success in this realm. In the past, the prevailing belief was that sports betting relied solely on intuition and personal judgment, without any concrete framework or mathematical analysis. However, by introducing mathematical principles into my betting strategy, I discovered a whole new world of possibilities that had previously been overlooked.
I started to excel in my betting endeavors as someone experienced in the field. Sharing my insights, I even created a YouTube channel to advocate the idea that everything boils down to mathematics. This is my conviction and observation: in the realm of betting, everything revolves around numbers and probabilities.
In the beginning, I faced a barrage of criticism, with many individuals dismissing this as nonsensical and claiming that soccer is a completely arbitrary sport devoid of any discernible patterns. I was subjected to an overwhelming onslaught of severe censure right from the start.
"We established Full Trader, our company, in response to the demand for accessing the same resources I had been utilizing. Today, Full Trader stands as a prominent provider of data and betting tools, renowned for its extensive offerings."
We have emerged as a global authority in the field of data analysis and its application in sports betting.
Ricardo finishes:
Seeing the lack of discussion around mathematics and the fruitful outcomes it could yield, I felt compelled to embark on a journey of creating distinctive content. This decision was fueled by the realization that there was a gap waiting to be filled, and I craved to be the one to fill it.
Watch the video below featuring Ricardo as he explains an effective technique for bank management.
As a bettor who has experienced success in the world of sports betting, I often find myself being approached by others who aspire to make a living from this endeavor. To these individuals, both seasoned bettors and new traders alike, I would offer the following advice and words of wisdom.
Living solely off of sports betting is not a wise financial choice, in my opinion. While it is possible to generate income from it, I want to make it clear that it's not the most reliable option. Personally, I have managed to earn a substantial monthly income from betting, surpassing the earnings of multiple doctors. However, it's important to note that this income fluctuates and is dependent on certain factors.
As a trader, it is important to consider the impact of the pandemic on the availability of games. For example, during this time, there are fewer games being played, which means there are limited trading opportunities. Relying solely on trading in such circumstances would not be feasible. So, what can be done in this situation? It is advisable not to solely depend on sports betting as a trader if you want to make a living.
Ricardo faces the added challenge of psychological stress to deliver outcomes within the month, as it is crucial for covering his monthly expenses.
Here's my suggestion: My advice is to diversify your income streams and not solely rely on sports betting. Explore different ways to generate revenue in various markets and locations. Once you've accumulated funds from these sources, consider investing a portion of it in sports betting to potentially increase your earnings.
How would you describe your betting style? Are you inclined towards taking more risks or do you prefer a more cautious approach?
Analyzing the profiles of individual gamblers in terms of conservatism or risk-taking is a flawed approach, in my opinion. The essence of risk lies in the mathematical aspects and the methodology employed, not in the psychological profile of the player. Personally, I follow a method that involves using a stake of 10%. However, there are other methods where a conservative approach is advisable due to higher variance. Therefore, the decision to be conservative or aggressive should not be based on psychological profiling, but rather on careful analysis of the methodology's variance.
Ricardo's stance is once more grounded in mathematical principles.
The mathematics, not my psychological profile, will dictate whether I adopt an aggressive or conservative approach.
Ricardo believes that it is essential for individuals to consider their thoughts and perspectives.
In this given approach, I tend to adopt a more assertive stance due to its reduced variability. Conversely, in the alternative approach, characterized by greater variability, I opt for a more cautious approach. It is crucial to note that my level of conservatism or aggressiveness is determined by the requirements of the method, rather than my personal inclination.
He admits that this might appear contrary to what one would expect.
I am aware that not everyone shares this perspective, but personally, I don't consider myself to be talkative or assertive. Instead, I prefer to approach the market based on the concept of variance. In situations where the variance is low, I adopt an aggressive approach in the market. However, when the variance is higher, my approach becomes more conservative.
Take a look at Ricardo's perspective on the concept of variance in the realm of sports gambling.
5. We understand that you exclusively use Betfair. In your viewpoint, what are the benefits of engaging in trading and betting exchanges as opposed to conventional sportsbooks?
Betting Exchanges
In my opinion, extracting value from any given situation is entirely achievable. Let's start by addressing the issue that Betfair faces on their Exchange platform, namely the absence of limitations on winnings. However, it is worth noting that Betfair does have a limitation in terms of liquidity, which determines the amount of liquidity available for conducting transactions. Thankfully, the liquidity is abundant, which ensures a sense of tranquility.
The way in which a trader on Betfair and a punter in a sportsbook differ lies in their approach to analyzing and selecting the games they wish to engage in.
As a trader, I don't have the luxury of choosing which games to work on. Instead, my focus lies in selecting the opportune moments within those games. This crucial distinction sets me apart from others. To succeed, I must master the art of identifying the perfect moment to make my move, given the vast array of possibilities. Within the game, there are moments where no action can be taken. Hence, the advantage I hold over a punter, for instance, is my ability to closely monitor the game and operate precisely at that specific moment. If the dynamics of the game shift, I swiftly adapt and move on.
Ricardo fails to acknowledge the drawbacks, which are more evident.
On the flip side, there are also drawbacks to consider. Numerous individuals engaged in Betfair trading, making timely entries and exits, might inadvertently overlook certain trading prospects. For instance, the bettor might have already taken a position prior to the commencement of the game, such as in a handicap market or even the final outcome market. Meanwhile, the trader patiently awaits favorable market dynamics. However, during this waiting period, a goal could be scored and the trader may miss the opportunity to capitalize on it.
Sports Betting - Sportsbook
As a punter, my approach differs from many in the industry. Instead of attempting to determine the market price for a given line, I recognize the expertise of bookmakers in this regard. The extensive structure they employ to establish event prices, particularly in major leagues, is highly impressive. Therefore, competing with them on pricing would not be my priority. Instead, my focus would be on carefully selecting games based on their level of variance. I would opt for games with odds ranging from approximately 1.8 to 2.20, but my main criterion would be the level of variability present. I would seek games where there is less unpredictability, allowing me to approach them with a greater sense of confidence before they commence.
Ricardo finds Trading more attractive due to the reduced level of competition in the field.
As a trader, I find it fascinating that the world is filled with a greater number of punters than traders. It seems that most individuals lack the knowledge and experience to navigate the live market effectively. Consequently, I believe that being a trader presents a more accessible opportunity to generate profits.
What does Ricardo Trader's daily schedule consist of? How much time is dedicated to studying, analyzing games, and placing bets every day?
I have a rather unique daily routine compared to others. My passion lies in the pursuit of knowledge, particularly in the realm of studying. I derive immense joy from immersing myself in the act of learning. As a result, it is not uncommon for me to dedicate more than 4 hours each day solely to the study of sports betting. This duration does not even account for any trading activities that may accompany my studies.
I enjoy studying late into the night, often continuing until around 2 or 3 am. During these late-night sessions, I delve into my studies, analyzing databases, developing methodologies, and confirming various hypotheses.
As an operator, my working hours are primarily in the afternoons. Typically, I commence my operations around 2 or 3 in the afternoon and continue till approximately 10 o'clock at night. Thus, I dedicate approximately 8 hours each day to operating. These operations take place from Sunday to Friday, with Saturdays being my designated day off. It is a day when I completely unwind and forget about work. On Sundays, however, I work the longest hours. I begin in the morning and remain at work throughout the day, starting from 8 in the morning and concluding around 10 or 11 o'clock at night.
In the video presented below, Ricardo discusses the notion that not everyone is suited for the field of Trading.
7. Lastly, I'm curious to know your perspective as a trader on the regulation of sports betting in Ireland.
I have observed that the individuals tasked with overseeing regulation in Ireland are not actively engaged in the realm of sports betting. It seems that they lack familiarity with this domain. In an effort to address this issue, a public consultation has been initiated in Ireland, allowing individuals to voice their opinions on the regulatory framework. My team and I have taken the opportunity to submit multiple letters and proposed models for their consideration. Unfortunately, it appears that our efforts have fallen on deaf ears, as they do not seem to be receptive to our input.
Ricardo highlights, as previously mentioned on Top Eire Casinos, a major issue with the Irish system lies in its taxation approach.
As a helpful assistant, I understand that few professional bettors would find this particular enterprise appealing. A large portion of them would undoubtedly seek opportunities in foreign nations or persist with illicit endeavors. For the government, this poses a significant concern, as their primary objective is to amass revenue. Obviously, in order to generate revenue, there must be an ample supply of money circulating within the market.
Ricardo highlights that by targeting casual gamblers, the Government has the potential to effectively collect revenue.
For the amateur bettors, the concept of sports betting remains elusive. They tend to view it as a game of chance, akin to the lottery, without grasping its intricate workings. Understanding positive expected value and probabilities is beyond their reach, leading them to rely on trial and error. Consequently, they place bets without fully comprehending the underlying principles. Consequently, a substantial number of individuals engage in this approach, resulting in significant financial gains for the government. However, for the seasoned professional, the circumstances may not be as favorable.
Interested in learning more about Ricardo's work? Discover where you can locate him:
User comments
Good evening! I hope you're doing well. I wanted to reach out to you today because I recently discovered an interesting world of possibilities. A friend of mine introduced me to the world of betting, but I quickly realized that the guessing method I was using wasn't effective. So, I started looking for a better way to approach this and that's when I stumbled upon your videos. I have to say, I really enjoyed your teaching style and it gave me hope that I have the potential to excel in this field. With that said, I would like to request the opportunity to take a beginner's course and, eventually, the PPC. I genuinely believe that with the right guidance, I can achieve great things. Thank you in advance for considering my request. I appreciate your time and attention. Best regards, Maurici from Joinville - SC.